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The Korea Herald

Markets

April 23, 2024
Aging population to drive down Korea's housing prices from 2040: experts

South Korea's housing prices are expected to see a long-term decline starting in 2040, hit by the nation’s falling birth rate and quickly aging society, according to experts who joined a Seoul seminar hosted by construction project management firm Hanmi Global on Tuesday. "In 2025, South Korea wi...
April 23, 2024
K-water, Kyrgyzstan forge renewable energy, climate ties

Korea Water Resources Corp. is intensifying its international outreach to jointly tackle the climate crisis and bolster the export of water management technologies. In line with this initiative, the state-run water management agency announced on Tuesday that it has entered into multiple agreements...
April 22, 2024
BOK chief says won will level off if Middle East conflict eases

Bank of Korea Governor Rhee Chang-yong, during his visit to the United States, projected the volatility of the won-dollar exchange rate would ease if the Middle East tension did not escalate further. The won-dollar exchange rate has been fluctuating heavily over the past few weeks, influenced by t...
April 22, 2024
Korea's food inflation surges to third-highest in OECD

South Korea's food inflation spiked to 6.95 percent in February, the third-highest among member countries of the Organization for Economic Cooperation and Development. The OECD statistics for February announced Sunday reveal that Korea ranks third among 38 OECD member countries in terms of food an...
April 22, 2024
HD Korea Shipbuilding to help SMEs cut greenhouse gases

HD Korea Shipbuilding & Offshore Engineering said Sunday it has partnered with Korea East-West Power and the Korea SMEs and Startups Agency to launch a joint initiative to reduce greenhouse gas emissions in the shipbuilding industry. The collaboration, inked at the HD Hyundai Global R&D Center, su...
April 19, 2024
Seoul shares rattled by Israeli attack on Iran; Kospi dips to nearly 11-week low

The South Korean market on Friday faced heightened volatility in response to Israel's military actions against Iran, with the benchmark Korea Composite Stock Price Index plunging to its lowest level in 11 weeks. The dip coincided with a weakening of the local currency. The Kospi concluded the day ...
April 19, 2024
S-Oil donates W560m to support firefighters

S-Oil, one of major refineries in South Korea, made a donation of 560 million won ($405,000) on Friday to the Korea National Council On Social Welfare to support its ongoing program assisting firefighters and their families, the company said. The KNCSW, a charity organization under the Ministry of...
April 19, 2024
S. Korea pledges W23tr venture capital fund for green investment at G20 meeting

South Korean Finance Minister Choi Sang-mok unveiled the country's plan to bolster green investment in the private sector by establishing a venture capital fund worth 23 trillion won ($16.6 billion), the ministry said Friday. Emphasizing the importance of leveraging private capital for climate fin...
April 18, 2024
Trilateral talks acknowledge ‘serious’ slumps of won, yen

The top finance policymakers of South Korea, the US and Japan shared their concern on the recent devaluation of the Korean won and the Japanese yen during their first trilateral talks Wednesday. Korea's Finance Minister Choi Sang-mok, US Treasury Secretary Janet Yellen and Japan's Finance Minister...
April 18, 2024
Seoul Business Agency CEO says SNS marketing essential for SME

The Wednesday session was also graced by the presence of Fazliddin Arziev, counselor of the Embassy of Uzbekistan in Seoul, who attended the forum on behalf of Ambassador Vitaly Vasilievich Fen. During the event Arziev expressed optimism for greater cooperation between the two countries, citing Uz...
April 17, 2024
Korea, Japan finance chiefs vow to tame rampant FX market volatility

South Korea and Japan’s finance ministers voiced concerns over the recent depreciation of their currencies against the US dollar, showing their intention to step into the market to support the won and yen, according to Korea's Finance Ministry on Wednesday. Finance Minister Choi Sang-mok met with...
April 17, 2024
Why is Apple Pay struggling to get purchase?

Another source noted that such technological gaps can be bridged, or already have been, yet local transport card issuers and Apple Pay have not reached an agreement yet. For contactless public transport payments, Apple Pay must enter into a partnership with T-Money or other local transport card iss...
April 17, 2024
Beer imports from Japan more than double in Q1

South Korea's imports of Japanese beer products more than doubled on-year in the first quarter this year, despite a 20 percent drop in the country's overall beer imports during the same period, government data showed Wednesday. According to the Korea Customs Service, the combined value of Korea's ...
April 17, 2024
HD Hyundai signs W641b warship deal with Peru

“We will invest our cutting-edge technology and ample experience to modernize the Peruvian Navy and strengthen its combat capabilities,” said Joo. “We will ensure that the SIMA Shipyard, which has provided us an opportunity to cooperate with them on the opposite side of the world, will become H...
April 16, 2024
Korean won slides amid heightened uncertainty

The Korean won weakened to 1,400 won against the US dollar during trading hours Tuesday, marking a new 17-month low as the Korean economy faces headwinds from the escalating volatility in the Middle East. The local currency against the greenback closed at 1,394.5 won, losing its value by 10.5 won ...

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